Looking to brainstorm a bit here as I think this is a significant real world use case that could easily be adapted to existing technology and integrated with existing institutions. My view of this, as someone that lives in a first world country, would be that it could function similar to that of a bitcoin atm meets localbitcoins, only with more services for those not technically savvy. A person would hand fiat over to an operator who would buy the crypto for them (thinking BCH, ETH or even LTC as the regular BTC blockchain's 10 min minimum transaction time can hamstring using it). Then they would either send the crypto to a wallet that the person sending the remittance would control for a nominal mining fee, or if the person sending remittance doesn't have one they could choose to send it to another office (in a minimalist set up could even just be a person) on the other end actually in-country who could pay out the crypto in local fiat, possibly converting amounts to dollars first then to local.
The way that I would see it working would be to profit more on volume than over individual transactions, as Western Union and the like already charge 3% plus possibly a sending fee on some places. This would be more along the lines of a custom mining fee (for speed) which for certain cryptos is still pretty nominal. That and possibly a very small fee for changing crypto to fiat, very small like maybe a dollar or if it gets up and running 10 cents. To encourage crypto adoption could also point out that if they want the crypto directly they could always make their own wallets, or possible get on a local exchange...
Now, this is all purely conjecture now, what I am most wondering is what I haven't thought of so far. I am.guessing would.need some sort of money or wire transfer permit to be even accepting money in the first world country, problem is I don't even know at what level it would be needed, local, state, federal or even a combination of 2+! Also, if this is even feasibly legal on certain countries, which ones may have a ban on them such as possibly China. Lastly, if there are any flaws in this plan that I haven't anticipated, and which might not make it better than existing systems of payment. With crypto prices falling across the board and hash rate rising this seems like a great time to try to set this up and start people actually using cryptocurrency for some thing important right now.
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from Bitcoin - The Internet of Money http://bit.ly/2TfWi5s
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